Boating is an activity that can be enjoyed by all ages, and the best part? They are surprisingly affordable.
However, before you buy one, it’s important to know the difference between the two types of boats: new boats and second-hand boats. You need to know what they each offer and which one will suit your needs best. This article will help you decide if it’s time for a new boat or a used boat.
Is buying a new boat worth it?
It’s not something that can easily answer “yes” or “no”. Whether a new boat would be your best option depends on your needs as well as considering a few other things. Regardless of whether you’d be buying a new boat or buying a used boat for sale, there are pros and cons on both sides.
Buying a new boat comes with a lot of options and benefits. Likewise, there are cons and considerations you’ll need to carefully iron out. If after considering your options you still find it worthwhile, then you’re good to go. If not, maybe you can consider buying a good quality second-hand boat. And let’s hope you may be lucky enough to find a ‘nearly new’ pre-owned boat at genuine boat buying value.
Pros and Cons of Buying a New Boat
1) You get to choose a lot of things by yourself
Buying a new boat is like building your own house; you can customize almost everything. You can choose your choice of specs, the latest designs, features, equipment, etc. When you buy a new boat. You can expect everything to work as new, new smell, flourished paint without any sort of blemish or marks.
If you go for a new boat, you can often decide what layout you want. You can decide the color of your upholstery and fabrics, your choice of optional extras, and even the hull color, in some cases. Simply put, with a new boat, you won’t have to adapt to someone else’s specifications or tastes.
2) New boats come with a warranty
A brand-new boat has the latest technology, installed equipment, and engines, and it comes with a warranty. The boat is guaranteed to be free of defects for a certain amount of time, usually one year. The warranty covers the hull and all major components like engines, equipment, or electronics that are not related to transportation.
3) New boats are more expensive than used boats
Compared to a used boat, a new boat will most often be way more expensive. Exchange rates, shipping costs, and commissioning costs can even contribute more to this, especially for imported brands. Although there are always a few exceptions, it’s true in most cases.
4) New boat orders usually have a long wait time before delivery
In most cases, you’ll also have to wait before your order for a new boat gets built, shipped, and then delivered to you. Except if you’re buying a stock boat from a dealer, you may have to wait for as much as a year or even longer in some cases. If you accept the stock boat from a dealer, you lose the benefit of being able to customize what you really want in your new boat.
5) You may need to make a deposit to secure your order
To buy a new boat, you’ll most likely be required to make a deposit to secure your order and then progress payments throughout the process. This may not be a problem if you’re buying from a credible dealer with a great record, but it can be problematic if an unexpected incident happens to your dealer or manufacturer. This is a risk that shouldn’t be lightly dismissed.
6) It’s usually difficult to test drive since your boat will be unavailable
Most people would also like to test drive or sail the boat they intend to buy. If you’re buying a new boat, your boat will most likely be unavailable. Though there may be a test model, slight differences in engine or setup, weight, and size, “may” mean that you will not get the “exact” feel of what you’ve ordered.
7) New boats depreciate faster than used boats
New boats, depending on the brand, model, and market will usually depreciate by at least 10 – 20% during the first year of purchase. This is not usually the case if you’d be buying a used boat for sale.
8) You’ll spend time and effort on warranty issues
It’s true that while your boat is new, there will be numerous teething issues and defects that take your attention and time during the first year. So, do expect to spend a certain amount of time and effort following up and working with your boat dealer for attention to your warranty issues.
The Pros and Cons of a Used Boat
The pros of buying a used boat are that you can get a boat for less money. You also won't have to worry about insurance and licenses if your boat is 20 or more years old (as long as it's not powered). Some people may prefer an older boat because it may be better built than newer boats. If you're really interested in boating, this could be a good reason to purchase an older boat. However, the downside is that you don't know what the quality of the boat will be and how well it will work in the future.
Boats require time and money to maintain and it can lead to financial stress if you buy a new one, and also require expensive licenses and insurance. Some people may find that their budget does not allow for these expenses. So if you're interested in owning a boat but don't have the funds or time available, you may want to consider buying a used boat instead of a new one.
So, will you buy a new boat or used boat? What’s the best option for you? Share your thoughts in the comment box.